Industrial communication acts as a backbone for automation system architecture as, it provides powerful means of data controllability, data exchange, and flexibility to connect different devices. Rise in number of initiatives by government and other regulatory bodies to assist industrial automation is accountable to accelerate the growth of industrial communication market. Moreover, increase in the concept of machine-to-machine communication also plays a major role in contributing towards the growth of industrial communication market.
Factor responsible to hinder the growth of industrial communication market is various threat and risks associated with cyber security that act as a restraining factor. Nevertheless, in a dynamic technological era, demand for wireless networks and IIOT is rising which is subjected to provide sufficient opportunities of growth to the industrial communication market in forthcoming period.
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Global Industrial Communication Market: Trends and Opportunities
The increased adoption of the IoT is likely to make considerable changes in the way different products are manufactured, developed, transported, and distributed. Growing number of end-user industries such as aerospace, transportation and automotive, defense, paper, cement, electrical and electronics, energy and power, pharmaceutical, food and beverages, mining, glass, fabrication or engineering, water and wastewater, and chemicals and fertilizers will benefit the market for industrial communication.
The key players influencing the market are the list of companies for Industrial communication market are Honeywell International, Inc., Sick AG, Belden Inc., ABB Ltd., Siemens AG, Omron Corporation, Rockwell Automation, Inc., Moxa Inc., Ifm Electronic GmbH, and Mitsubishi Electric Group.
The key communication protocols such as industrial Ethernet, wireless communication, and Fieldbus can be the major segments of the industrial communication market. Of these, the Fieldbus protocol appears to present significant prospects, owing to its widespread adoption in key process industries. Fieldbus has a strong hold particularly in the emerging economies such as India, Japan, and China. It is likely to present extensive opportunities as they are able to integrate with wireless devices, increasing the level of efficiency.
It also provides market size and forecast till 2027 for overall Industrial communication market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America (SAM). The market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 16 countries globally along with current trend and opportunities prevailing in the region.